Some property tax relief is coming for senior citizens in Jackson County, Missouri, but not right away. On Monday, county lawmakers approved property tax relief for seniors in Jackson County. Specifically, the new law freezes property taxes for qualifying seniors starting next year.
Property Tax Relief For Seniors In Jackson County: Who Will Get It?
On Monday, Jackson County lawmakers voted 8-1 to approve property tax relief (Ordinance 5787) for eligible taxpayers who are 62 years or above. This new law is a by-product of the Missouri Senate Bill 190, which was signed into law by Republican Gov. Mike Parson.
Senate Bill 190 freezes property taxes for seniors but wants counties to implement it first. The SB190 took effect on August 28.
Under Senate Bill 190, qualifying seniors get a property tax credit that equals the “difference between the real property tax liabilities on the homestead in a given year minus the real property tax liability on such homestead in the year in which the taxpayer became an eligible taxpayer.”
As noted above, the new law (Ordinance 5787) freezes property taxes for eligible seniors at the 2023 level. The relief is available on the primary residence of the taxpayer who receives Social Security. Also, the primary residence’s market value – determined by the assessment process – must be below $550,000.
Many lawmakers criticized the new ordinance for ignoring inflationary adjustment to the property value. If the market values of property go up in the future, many seniors who are now eligible for the property tax relief won’t qualify for the credit then.
Last week, St. Charles County approved a similar law to implement the tax credit in 2024.
No Immediate Relief For Homeowners
Eligible seniors meeting the requirements will qualify for property tax relief next year. This means that they will have to pay the property taxes for 2023. If they are eligible for the property tax relief for seniors in Jackson County next year, their property tax bill will freeze at the 2023 level.
Under the county ordinance, a senior won’t receive the tax credit for any years before 2023. Also, the new law is not retroactive. This means that seniors over 62 years won’t be able to claim the credits for previous years of property tax payments.
Jackson County will use the rest of the year to develop procedures for the new ordinance. Last week, the county legislature rejected (8-1 vote) a separate proposal, which, if passed, would have implemented the tax relief in 2023.
Time constraint is a major reason for not implementing the property tax relief for this year. Property owners usually receive their tax bills in mid-November.
Seniors will have to submit their application by the end of April 2024 to get the tax relief.